Sky City posts 23% drop in full-year profit, adds hotel to convention centre plan

Tue, 12 Aug 2014

By Jonathan Underhill Aug. 13 (BusinessDesk) - SkyCity Entertainment Group, New Zealand’s only listed casino company, posted a 23 percent drop in full-year profit on the impact of the strong kiwi dollar and Adelaide redevelopment costs. It also added a five-star hotel to its convention centre development. Profit fell to $98.5 million, or 17 cents a share, in the 12 months ended June 30, from $127.3 million, or 22.1 cents, a year earlier, the Auckland-based company said in a statement. Revenue fell 4.8 percent to $902.5 million. Prof...

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